4 Quick Tips to Help you Make Price Irrelevant
1) Customer Service Feature Story
Why Employees Want to Leave and How to Stop It
Every year, improving employee morale, turnover, and employee experience is a major objective for many organization’s leadership teams. Building a world-class experience encompasses both customer and employee. How can companies ensure their leaders know how to lead within the service culture their organization is creating? What tools can help organizations drive employee engagement and retention?
One of the biggest issues that organizations face when trying to become a world-class service provider is voluntary turnover. Turnover can cause many issues, including lower morale, higher stress and workload for our existing team, and more work for managers as they continually hire and train. That does not even cover the financial costs organizations have to face. What does it typically cost to replace an employee? Data shows that at a minimum it is one half their annual salary, BUT, when we lose a rock star, that number can easily shoot up to two times their annual salary. Quite honestly, most organizations cannot afford to be stuck on the turnover treadmill!
So, to tackle this issue, let’s start by looking at the top reasons that employees leave:
- Their immediate manager: this is top of the list, and such an important, but often overlooked variable.
- Poor fit for the role: this could mean they are in the wrong seat, or maybe not properly trained.
- Fellow co-workers are not committed: this one typically happens when leaders are too busy with “other priorities” and not focused on their teams.
- Pay and benefits: so often people assume this one is number one, but it is not. While it is an important factor, it is not the biggest factor.
- Not feeling a connection to the organization.
The number one issue on the list is an employee’s immediate manager. Very often, organizations simply don’t realize how important this dynamic actually is. And it reminds me of the old saying, “people don’t quit jobs, they quit bosses!”
In a recent poll conducted by LinkedIn, when asked why they were leaving an organization, 75% cited a boss as their number one reason – 75%!!! If your organization is experiencing some turnover issues, you might want to start by looking at some of those interactions – or lack thereof.
How can you fix this? Here are the top five tactics for employee retention as researched by Gallup:
- Develop personalized actions plans
- Create opportunities for employees to learn and advance
- Provide career coaching
- Give your employees autonomy and the space to be creative
- Recognize achievements, big and small
Those five tactics will help you to drive engagement and retention. But here is the problem. How the heck do you execute? We all know if you walked into a meeting with leaders and said, “Make these five things happen,” you would
get as many variations as there are people in the room. So, how do you bring these bullet points to life? How do you make them actionable and a priority?
You need to give your managers a tool to help them execute these, and to do it consistently across the organization.
The DiJulius Group helps clients create this tool— The Employee Experience Manual (TEEM). To create The Employee Experience Manual, we help clients identify the significant milestones of team members where they need to ensure that engagement is happening. We then dissect each one of these stages, starting with looking at the things that can go wrong as well as the things that should be happening operationally and experientially. When completed, The Employee Experience Manual is a playbook, for every leader in your organization, designed to consistently drive employee engagement throughout the organization.
*Related – How to Make an Inspiring New Employee Orientation Class
2) What it Takes to be a Revolutionary
3) Quote of the Week
“Be human first, a professional second”
4) Make 2021 the Year you Stop Competing on Price